Eniro Interim Report, January-June 2012

 | Source: Eniro AB Eniro AB 

Eniro strengthened its cash flow by 85 percent during the quarter and stands by
its full-year forecast. Profit before tax was SEK 195 M. Overall traffic to the
company's services is increasing.
SECOND QUARTER: APRIL–JUNE 2012

  · Total operating revenues amounted to SEK 1,001 M (1,151), down 13 (-20)
percent. The early publication of catalogs accounted for about one-third of the
negative impact on total revenues compared with the year-earlier period.
Organically, revenues declined 9 (-8) percent.
  · Total Online revenues increased 6 percent during the quarter; 1 percent of
which was organic. The share of digital media revenues, excluding Voice, during
the rolling 12-month period was 73 (63) percent
  · EBITDA totaled SEK 251 M (319), equal to an EBITDA margin of 25.1 percent
(27.7)
  · Earnings per ordinary share for the period amounted to SEK 1.49 SEK (0.80)
  · Eniro repaid a debt at a discount and generated a capital gain during the
quarter of SEK 154 M
  · Operating cash flow increased by SEK 46 M and amounted to SEK 100 M (54)

FIRST SIX MONTHS: JANUARY–JUNE 2012

  · Total operating revenues amounted to SEK 1,960 M (2,117), down 7 (-22)
percent.
  · EBITDA totaled SEK 407 M (441), equal to an EBITDA margin of 20.8 percent
(20.8)
  · Earnings per ordinary share for the period amounted to SEK 1.11 SEK (0.29)
  · Eniro repaid a debt at a discount and generated a capital gain of SEK 154 M
  · Operating cash flow increased by SEK 137 M and amounted to SEK 113 M (-24)

EVENTS DURING THE SECOND QUARTER

  · Eniro financed a bank repayment at a discount by issuing preference shares.
The preference-share issue raised a total of SEK 400 M before issue costs. The
capital gain from the repayment amounted to SEK 154 M
  · Eniro Denmark acquired the Open Ad Exchange and thus strengthened its
position and network offering in the market for sponsored links

FOLLOWING THE CLOSE OF THE PERIOD

  · The Board of Eniro adjusted the target for the company’s capital structure
from a previous net debt in relation to EBITDA of no greater than a multiple of
3 to a multiple of 2.5.

For more information, please contact:
Johan Lindgren, President and CEO, Tel: +46 8 553 310 01
Mattias Lundqvist, CFO, Tel: +46 8 553 310 04
Cecilia Lannebo, Head of Investor Relations, Tel: +46 722 208 277, email:
cecilia.lannebo@eniro.com
Eniro is the Nordic region’s largest local search company. Both consumers and
companies can use Eniro’s services to easily locate where to buy services and
products – regardless of whether the channel is internet, catalog or mobile.
Advertisers can actively market themselves to interested consumers, find new
customers and increase sales.

Eniro has approx. 3,600 employees in the Nordic region and Poland and has been
listed on Nasdaq OMX Stockholm since 2000. During 2011, Eniro’s revenues
amounted to SEK 4,323 M and EBITDA was
SEK 991 M. Headquarters are located in Stockholm, Sweden. More on Eniro at
www.eniro.com

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